By KARYN SCHERER
The owner of Auckland's Imax cinema is confident a deal will be struck within a few days to keep the venture operating.
The 460-seat theatre, a key tenant in the Force Entertainment Centre in the central city, has been under a cloud since its Australian manager, Cinema Plus, revealed eight weeks ago that it had debts of nearly $200 million.
Under a deal struck in Australia this week, the United States-based Imax Corporation will take over the management of four Imax cinemas in Australia. This does not cover the Auckland cinema, which has a different owner.
Yesterday, liquidator Stephen Lawrence, of accounting firm Ferrier Hodgson, would say only that negotiations were continuing over the Auckland cinema's future and a deadline of next Monday had been set for any deal.
"There's every possibility that if a deal is not struck it will have to close."
The deadline was played down by the building's owner, Force Corporation. Chairman Peter Francis said last night that Force might run the cinema in conjunction with Imax. "The only thing I'm probably certain of is the cinema will remain open."
An Australian property trust, MTM Entertainment, owns the four Imax cinemas in Australia.
It was planning to buy the Auckland cinema this year, but has been locked in a dispute with Force over the deal.
It is understood that Force is at present allowing the cinema to operate rent-free.
Imax owner confident of deal
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